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Stocks imploding after hedge fund clients of Deutsche Bank withdraw excess cash

News by Allie Longford on 13:03 EST September 29, 2016
And it begins, all indices in RED after Bloomberg reports a number of funds that clear derivatives trades with Deutsche Bank AG have withdrawn some excess cash and positions held at the lender, a sign of counterparties’ mounting concerns about doing business with Europe’s largest investment bank. The news agency points that Millennium Partners, Capula Investment Management and Rokos Capital Management are among about 10 hedge funds that have cut their exposure, said a person familiar with the situation who declined to be identified talking about confidential client ...

Bad news, good news as pending home sales collapsed in August

News by Allie Longford on 10:08 EST September 29, 2016
Stocks spiking up in early US trading on the back of the news that pending home sales fell 2.4% in August according to the National Association of Realtors. Economists had forecast that pending sales of single-family homes, condos, and co-ops were unchanged month-on-month, according to Bloomberg. For the previous month -July- the reading was 1.3%. Year-on-year, sales were up by 4%. Pending sales reflect contract activity, they're a good forward-looking indicator of how many existing homes will eventually be sold. Pending sales are expected to slow in August ...

FED chair Yellen headline of the year: Continued job gains might do more harm than good in the future

News by Allie Longford on 09:08 EST September 29, 2016
In yet a another new twist in the new economic normal Ms. Yellen warned on Wednesday that continued job gains might do more harm than good in the future. If the unemployment rate drops much further, it could push inflation above 2%, causing the Fed to raise interest rates more rapidly than it would like to, which could tip the economy into another recession she stated. As the head of the most important central bank in the world worry about the US creating too many jobs she added there is “no fixed timetable” for raising U.S. interest rates as the economy continues ...

U.S. GDP grows by most since the third quarter of 2014

News by Newsroom on 08:58 EST September 29, 2016
US economic growth benefited in the second quarter from exports growing more than imports and businesses raising their investments. The US economy expanded at a 1.4 percent annual rate, the Commerce Department said on Thursday in its third estimate of GDP. That is up from the 1.1 percent rate it reported last month and a dash higher than the 1.3% analysts forecasted. The revision shows businesses cut investments in buildings and equipment less than the government had previously anticipate, while they spent more into research and development. Growth in overall ...

Japan's retail sales decline for first time in three months

News by Newsroom on 20:43 EST September 28, 2016
Japan's retail sales fell more than expected in August making this the sixth straight month of annual declines due to falling sales of clothes and home appliances. Retail sales fell 2.1 percent in August from a year earlier, more than a median market forecast for a 1.8 percent annual decline, data from the Ministry of Economy, Trade and Industry showed on Thursday. The weak reading underscores the weakness of the japanese economy, with slow wage growth and gloomy prospects of recovery weighing on household spending. Japan's economy grew faster over April-June than ...

Oil pops as OPEC trims production

News by Newsroom on 19:48 EST September 28, 2016
OPEC has agreed on Wednesday to cut its oil output for the first time since 2008, following a capitulation by Saudi Arabia, which was forced to soften its stance on rival Iran amid mounting pressure from low oil prices. According to Reuters sources in OPEC, the group would reduce output by around 3% to 32.5 million barrels per day from current production of 33.24 million bpd. However, some countries such as Iran were exempt from the cap, and if previous rumours were true, will be allowed to pump even more. In the meantime WTI gained 5% on Wednesday trading. The price of ...

Draghi says UK shouldn't get any favors in Brexit deal

News by Newsroom on 16:09 EST September 26, 2016
Mario Draghi said the UK shouldn't be granted any special favours on access to the single market during negotiations over its exit from the European Union. "Any outcome should ensure that all participants are subject to the same rules," the European Central Bank president told European Parliament lawmakers on Monday. "It is very hard to imagine that any agreement that will be perceived as discriminatory against some subjects or in favor of other subjects could be a source of stability for the future of our EU." he added. Since the Brexit referendum in June, the ...

Trump Vs. Clinton. At what time is the debate?

News by Newsroom on 09:56 EST September 26, 2016
This Monday evening will be the first presidential debate between Democrat candidate Hillary Clinton and Republican Donald Trump. The two hope to win enough votes in the November election to become the next president of the United States and take over from Barack Obama after nearly eight years at the White House. The debate will be held at Hofstra University, Hempstead in New York at 9pm Eastern Time and is expected to be watched by tens of millions of Americans. If you are in a different time zone check the calendar to see the time of ...

Yen gains after Kuroda sticks to negative rate narrative

News by Newsroom on 09:10 EST September 26, 2016
The yen started the trading week strong on Monday in the face of more reassurance by the Bank of Japan to do everything necessary to get inflation back on the rise, including cutting interest rates further into negative territory. Bank of Japan Governor Hiruhiko Kuroda's commitment to use all tools necessary to get inflation back to its 2-per cent target did little to shift the conviction among bank analysts that Tokyo is increasingly impotent....

Federal Reserve keeps interest rates unchanged

News by Newsroom on 14:02 EST September 21, 2016
"The committee judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence of continued progress toward its objectives," the long awaited statement produced by the US central bank on Wednesday says. The Fed repeats it sees inflation rising to 2% over the medium term and will closely monitor inflation, global developments. The central bank also cut the GDP forecast for 2016 and the long-run GDP forecast. Stocks spiked higher on the news release with SP500 climbing 10 points and the ...

UK house prices spiked in September

News by Newsroom on 03:39 EST September 19, 2016
The average asking price for a house in Britain rose by 0.7 percent in September, the leading property website Rightmove said on Monday. The average house price was 306,499 pounds. The rise follows a 1.2 percent contraction in August. On a yearly basis, house prices gained 4.0 percent, slowing marginally from the 4.1 percent growth in the previous month. Brexit has not taken a toll on property prices, at least just yet. UK housing and stocks are probably benefiting from the sinking pound and the accommodative monetary policy of the Bank of England that cut ...

Gold Technical Analysis

Tech analysis by Simon Kazinsky on 15:52 EST September 18, 2016
Gold is making some textbooks moves. As can be seen on the chart XAUUSD has drawn a perfect triangle. Triangles are corrective patterns that occur typically on wave 2 or wave 4 under the Elliott Wave principle. In addition the base of the triangle matches at this point with the supporting ascending trendline joining previous lows. Therefore, a sign of reversal this week would give a good opportunity to buy with a limited loss ...

US inflation picks up

News by Newsroom on 08:31 EST September 16, 2016
CPI came at 0.3% for the month of August according to the latest figures released on Friday. The consensus forecast was at 0.2% and the previous reading 0.1%. ...

Pound sharply down as inflation remains weak

News by Newsroom on 06:16 EST September 13, 2016
The average cost of goods and services in the UK went up by a mere 0.6% in the year to August. The inflation rate, as measured by the Consumer Prices Index (CPI), remained unchanged from July. Rising food prices and air fares were the sectors that managed to push prices marginally higher while partly offset by cheaper prices for hotel rooms. Economists had forecast inflation would rise to 0.7% on the ...

Fed's Lockhart refuses to talk about hike timing because market is sensitive!

News by Allie Longford on 10:15 EST September 12, 2016
Who would have thought it. Markets are sensitive to the the Federal Reserve policies. We were unaware of this point until Atlanta Fed President Dennis Lockhart on Monday said he would not discuss his opinion of what the U.S. central bank will likely do at its September, November or December meetings as “financial markets seem to be very sensitive to remarks of Fed speakers at the moment.” However, in a speech to the National Association for Business Economics, Lockhart seemed to lean in favor of a move at one of the upcoming meetings, saying he thought the ...

TRUMP: Janet Yellen should be ashamed of what she is doing to the country

News by Newsroom on 10:03 EST September 12, 2016
Presidential candidate Donald Trump told CNBC on Monday the Federal Reserve is doing what President Barack Obama wants by keeping interest rates low. Trump said Fed Chair Janet Yellen and central bank policymakers are very political, and Yellen should be "ashamed" of what she's doing to the country, adding the Fed is not even close to being independent. By keeping interest rates low, the Fed has created a "false stock market," Trump argued in a wide-ranging interview in which he also talked about Democratic nominee Hillary Clinton's health problems. Trump said ...

Unemployment claims in the US lower than expected in the last week

News by Newsroom on 08:32 EST September 08, 2016
New claims came at 259k versus expected 264K and 263K last. Markets shrugging the data off as they wait for Draghi press conference....

ECB Draghi press conference summay

News by Newsroom on 08:17 EST September 08, 2016
ECB chair Mario Draghi addresses the press on Thursday after the central bank decided to leave its key interest rates and the asset purchase program unchanged while reaffirming the length of the program until march 2017. Here are Draghi's key points: * ECB maintains asset-purchase program at 80 Billion Euros a month * We continue to expect moderate, steady growth * Studying options to ensure smooth implementation of purchase program * Risks to Economy outlook remain tilted to downside * Growth weighed on by Brexit * Inflation expected to remain low in the coming ...

Fed sees modest economic growth amid slight inflation

News by Newsroom on 00:01 EST September 08, 2016
The Fed latest Beige Book release on Wednesday reports the U.S. economy grew at a modest pace in July and August as a strong labor market failed to put much upward pressure on wages and prices. “In general, expectations of wage growth for the coming months were modest” and price increases “remained slight overall,” according to the release, a survey of business contacts published Wednesday in Washington. While the job market “remained tight in most districts,” overall consumer spending was “little changed” from the previous report, it said....

ISM shows a very weak services economy

News by Newsroom on 10:28 EST September 06, 2016
Just last week the ISM showed that manufacturing in America remains weak despite the endless accommodating FED policies. Today the latest Non Manufacturing ISM print confirms it is not only manufacturing but the entire economy that contradict rosy stock valuation and job reports. The index for non manufacturing businesses came on Wednesday at 51.4 well below the expected 55.2 and the previous reading at 55.5 setting a low unseen since 2010. A reading below 50 means the entire sector ...

Trump Slams Yellen: The Fed Has Created A "Stock Bubble" And "A False Economy" To Boost Obama

News by Newsroom on 04:41 EST September 06, 2016
On Monday Donald Trump made some comments about the FED to a reporter travelling on his plane who asked him about a potential rate hike by the Fed in September. Trump said that the Fed is "keeping the rates artificially low so the economy doesn't go down so that Obama can say that he did a good job. They're keeping the rates artificially low so that Obama can go out and play golf in January and say that he did a good job. It's a very false economy. We have a bad economy, everybody understands that but it's a false economy. The only reason the rates are low is so that he ...

Stocks up during the Asian session as rate hike odds lowered by weak jobs report

News by Newsroom on 00:19 EST September 05, 2016
Shares in Asia were broadly higher early Monday as the weak U.S. jobs data eased the probability of an imminent rate interest hike by the Federal Reserve. The Nikkei Stock Average NIK climbed by around 1% while Hong Kong's Hang Seng Index appreciated almost 1.5% while Australia's S&P/ASX 200 also gained +1.00%. Amid uncertainty over the timing of a Fed rate hike, energy and commodities linked stocks gained ground on Monday. In Japan, shares there were also boosted by robust labor data released on Monday that showed wages up by the second straight month in July ...

NFP dissapoints

News by Newsroom on 08:33 EST September 02, 2016
The Non Farm payroll report dissapointed on Friday morning as it shows the number of new jobs created in the United States in the month of August was only 155,000. Analysts consensus forecast was 180,000 new vacancies filled well above the actual reading while the previous report showed 255,000 new jobs created. Average Hourly Earnings m/m came at 0.1% below the 0.2% expected and the previous reading at 0.3%. The unemployment rate also disappointed as it remains at 4.9% while it was expected to come down to 4.8% in August. Stocks marginally up after the news ...

Stocks hammered as ISM shows manufacturing contracting

News by Newsroom on 10:40 EST September 01, 2016
Stocks trading lower during the US session on Wednesday. The ISM manufacturing index released this morning came at 47.2 well below expectations of 52.0. Below 50 it means the sector is not growing but in contraction. The Standard and Poors 500 index appears to be waking from its slumber and has dropped so far 20 points in a quite abrupt move down to 2,158 from 2,178 at the start of the session. The dollar continues to be generally positive correlated to stocks and in this context EURUSD appreciated at the same time the stock indices dropped. The single currency has ...

Unemployment benefits claims in the US growing but less than expected

News by Newsroom on 09:39 EST September 01, 2016
The number of Americans filing for jobless benefits grew less than expected last week, confirming a sustained labor market strength. Initial claims for state unemployment benefits increased 2,000 to a seasonally adjusted 263,000 last week, the Labor Department said on Thursday. Claims for the prior week remained unrevised. The number of people receiving benefits after the first week increased 14,000 to 2.16 million in the week ended Aug. 20. Analyst consensus was for 265,000 new jobseekers claiming allowances. With the labor market nearing full employment, the ...

Apple Technical Analysis

Tech analysis by Simon Kazinsky on 20:21 EST August 31, 2016
I have been bearish on the Cupertino giant for quite some time now. My last technical analysis for Apple was produced right after the summer low at around $90. I was hoping for the technical support I spotted then in that region to give way but instead it did hold and the stock bounced to just above the resistance shown in the chart though has returned ...

Oil dips as inventory rises

News by Newsroom on 11:09 EST August 31, 2016
Oil prices tumbled 2 percent on Wednesday after data showed a large build in U.S. crude inventory and a smaller-than-expected dip in gasoline. The U.S. Energy Information Administration (EIA) said crude stockpiles rose for a second week, up by 2.3 million barrels in the last week, compared with analysts expectations for a rise of 921,000 barrels. Diesel and heating oil, rose by 1.5 million barrels, versus expectations for a 157,000-barrel drop. Gasoline stocks fell by 691,000 barrels, compared with forecasts for a 1.2 million-barrel drop. The Brent was down $1....

Chicago PMI sinks

News by Newsroom on 10:17 EST August 31, 2016
The MNI Chicago Business Barometer fell 4.3 points to 51.5 in August from 55.8 in July, led by a large setback in order backlogs and a slow down in new orders. Four of the five barometer components fell between July and August. Only employment increased, setting a 16-month high. New Orders and Production are now at the slowest pace since May, when they slipped below 50. The percentage of business surveyed considering hiring fell to 58% in August 2016 from 63% in August 2015. However, those who said they plan to add both temporary and permanent employees rose to 21% ...

ADP employment report better than expected

News by Newsroom on 08:22 EST August 31, 2016
Job creation rose a dash better than expectations in August according to the latest report from ADP and Moody's Analytics. Companies added 177,000 jobs for the month, just above expectations for 172,000. Most new jobs came from services, which added 183,000 positions but the report shows weakness in manufacturing and construction. Goods-producing industries shed 6,000 for the month. The July numbers were also revised higher, from an initially reported 179,000 to 194,000. All eyes are now on the NFP report this Friday. Estimate is for a payroll growth of 185,...

German unemployment rate stays at record low

News by Newsroom on 06:03 EST August 31, 2016
Unemployment in Germany held at a record low of 6.1% in August while the number of people registered at the employment office fell by 7,000 better than analysts expectations. Economists had been expecting a much lower drop in jobless numbers of 2,000. The change did not change the overall unemployment rate, which remains at 6.1% since May. EURUSD steady after the news after falling more than 200 pips after the FED provided signs that it may raise rates soon....


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